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Citigroup Inc. Message Board

  • xinged_by_wu xinged_by_wu Apr 20, 2009 4:21 PM Flag

    This Disaster Was Planned

     

    Hedge funds swing a big stick. There are more hedge funds than there are stocks traded. Because the SEC has done nothing for so long, they have allowed the short side to grow into a gorilla, way out of control. Not only is it a local problem in the US, but foreign countries are undermining our financial institutions as well.

    There was nothing about today that set up this sell off except some hedge funds getting together and deciding that today would be a great day to set up a sell-off. With so many hedge funds and day traders, once the ball gets rolling, that's all she wrote. Fundamentals done mean squat anymore.

    People that buy stock are supplying the liquidity to fuel the economy. That's basically how it works. Short selling dries up that liquidity. When naked short selling occurs, its basically theft, because that liquidity leaves and is unaccounted for. It's stolen. Why our government allows the SEC to continue to sit on its ass and do nothing while this has been occurring for over 10 years is amazing. I realize that Obama wants to concentrate on Main Street, but unless he focuses on restoring some faith on Wall Street, it's going to be a very uphill battle.

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